(1) A port may acquire, by condemnation or other lawful method, hold, use, enjoy and convey, lease or otherwise dispose of real and personal property, or any interest therein, necessary or convenient in carrying out its powers. Condemnation proceedings shall be conducted as provided by ORS chapter 35.
(2) A port shall not purchase real property without first appointing a disinterested independent appraiser to appraise the property. If the appraiser determines the value of the property exceeds $500,000, then the port shall appoint one additional appraiser who may be either a port staff appraiser or a disinterested independent appraiser. The appraisal shall fix the fair market value of the property proposed to be purchased. This subsection, however, does not require a port to purchase such property at the appraised value, nor shall the appraisal be admitted in evidence in any condemnation proceeding.
(3) An appraiser appointed under this section shall be a state certified appraiser, as defined in ORS 674.010.
(4) A port may purchase real or personal property upon a contractual basis when the period of time allowed for payment under the contract does not exceed 20 years. [1971 c.728 §17 (enacted in lieu of 777.115, 777.185 and 777.187); 1973 c.127 §2; 1975 c.43 §1; 1979 c.17 §1; 1991 c.5 §45; 1993 c.201 §1]Section: Previous 777.100 777.105 777.108 777.110 777.112 777.113 777.115 777.116 777.120 777.125 777.130 777.132 777.135 777.137 777.140 Next
Last modified: August 7, 2008